News – International
SAKS OFF 5TH OPENS IN GERMANY
Last month Saks Off 5th launched its inaugural German branch in Düsseldorf, opening a 3,500sq m store on Heinrich Heine Platz. It is the first of at least 40 branches that are planned to be opened in the country. Parent company Hudson Bay revealed the plan a year ago, as part of a huge investment undertaking worth $1.5bn over seven years, designed to exploit the group’s real estate assets in Europe. Among them, the properties in Germany, Belgium and Holland taken over in 2015 with the acquisition of retailer Galeria Kaufhof for $3.9bn. The first German branch for the outlet store offshoot of Saks 5th Avenue offers a range of menswear and womenswear lines from selected high-end labels, inside a newly renovated five-storey building. The interior layout will be replicated in Saks Off 5th’s other branches, with openings planned in Frankfurt, Stuttgart, Heidelberg and Wiesbaden, as well as in Rotterdam in the Netherlands.
EAST SIDE MALL TO COMPLETE IN 2018
On the east bank of the Spree in one of Berlin’s liveliest areas packed with tourist attractions and a high population and office density, FREO Group and RFR Holding are constructing the East Side Mall, which is due for completion next year. The mall will contain around 120 units covering 24,800sq m of retail space and 6,200sq m for restaurants. There are a further 2,770sq m for a Fit X fitness studio, 4,700sq m of storage space and 760 car parking spaces. Well over half of the rental spaces have already been let to international fashion retailers as well as classic local stores. There will be plenty to entice visitors with the inclusion of several popular international fashion stores such as Zara, which is taking around 2,700sq m, Pull & Bear, which will cover around 1,000sq m, Intimissimi/Calzedonia, Deichmann, Rituals Cosmetics as well as souvenir shops. In addition there will be a varied food offering including a food court, whilst a Rewe supermarket will cover around 3,500sq m.
LOOM IN BIELEFELD GALLERY TO OPEN ON 26 OCTOBER
On 26 October, the new shopping gallery Loom in Bielefeld will open its doors for the first time. The project is already 95 per cent leased, while negotiations for the remaining units are currently ongoing. Loom is set to feature more than 50 retail concepts that before now had not been in the city. The Irish fashion retailer Primark will open its first store in the region. It will comprise 5,000sq m and extend over three floors. Further new brands include Adidas Originals, KULT, JD Sports as well as major national and international fashion retailers. Also set to premier in Bielefeld will be the mono-label stores of Thomas Sabo, Pandora, Stadtparfümerie Pieper, Leder Berensen and MAC.
CITYLIFE SHOPPING DISTRICT TO OPEN IN NOVEMBER
CityLife, one of the most extensive urban regeneration projects in mixed-use developments in Italy is to open on 30 November, according to Sonae Sierra. The CityLife Shopping District will incorporate a mix of 100 shops dedicated to shopping, lifestyle, food, services, and entertainment and become Italy’s largest urban shopping centre upon opening. The district will feature a premium, across-the-board and accessible offer, designed to create a unique shopping and leisure experience for visitors. The site, with a GLA of 32,000sq m, will be home to national and international brands and retailers, as well as new names to the Italian market. To date, negotiations have closed for over 80 per cent of the commercial space, a significant feat that has been achieved well before opening. The Shopping District will be home to a huge food offering, featuring several restaurants. The covered food hall extends inside the mall over two levels and will have 20 bars and restaurants over an area of 3,500sq m. Among the first restaurants to be announced was Vivo, a first for the city of Milan. Outside the mall, the piazza area will house three restaurants, California Bakery, Panini Durini and That’s Vapore. The project will also offer entertainment facilites through a partnership with Cinema Anteo, a well-established brand in Milan. The cinema will have seven screens and a seating capacity of 1,200. Armando Borghi, CEO at CityLife commented: “CityLife affirms itself as the focal point of the city, offering a multiplicity of services aimed at residents and visitors. Restaurants, the cinema and shopping will be intergrated with two residential zones designed by the architects Zaha Hadid and Daniel Libeskind and a business district of three towers.”